Outline reasons why a marketing department would engage in market segmentation - Leaving Cert Business - Question (B) - 2002
Question (B)
Outline reasons why a marketing department would engage in market segmentation.
Market segmentation refers to the process of dividing potential markets into distinc... show full transcript
Worked Solution & Example Answer:Outline reasons why a marketing department would engage in market segmentation - Leaving Cert Business - Question (B) - 2002
Step 1
1. Socio-Economic Class
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Answer
Marketing departments engage in market segmentation to categorize consumers based on their socio-economic status, which helps in understanding their disposable income and preferences for different products.
Step 2
2. Age Groups
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Different age groups exhibit distinct interests and behaviors, enabling marketers to tailor their offerings, such as fashion items for teenagers.
Step 3
3. Regional Groups
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Segmentation helps identify geographical differences in buying habits, allowing for targeted marketing strategies in urban versus rural areas.
Step 4
4. Ethnic or Religious Groups
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Understanding cultural influences through segmentation allows marketers to create culturally relevant campaigns and products.
Step 5
5. Housing Type
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Housing type influences consumer preferences; segmenting based on this can help identify the most suitable products for different living situations.
Step 6
6. Attitude to Life
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Consumer attitudes and lifestyles affect buying behaviors, enabling marketers to position products that align with consumer values.
Step 7
7. Family Lifestyle
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Market segmentation considers family dynamics, as different family structures can influence purchasing decisions.
Step 8
8. Disposable Income
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Understanding disposable income allows marketers to pitch appropriate products that consumers can afford, ensuring better market reach.
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